TARRYTOWN, New York, May  07, 2024  (GLOBE NEWSWIRE) -- via IBN -- PaxMedica, Inc. (OTC:PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, provided a corporate update in light of its transition off the NASDAQ stock market, emphasizing this change will not affect the company's commitment to advancing treatments for neurological disorders.

Howard Weisman, CEO of PaxMedica, affirmed, "Our determination to progress with the NDA submission for PAX-101 remains unaffected, as does our commitment to our clinical program to further explore the potential for  anti-purinergic therapies to address the core symptoms of autism spectrum disorder (ASD)."

The company is preparing to file a New Drug Application (NDA) with the FDA for the use of suramin in treating Human African Trypanosomiasis (HAT) as it has previously reported. Suramin has been recognized for nearly a century as a standard treatment for HAT in East Africa.

In April 2024, PaxMedica responded to an urgent request from Malawi for an emergency release of suramin, underscoring the company's commitment to addressing global health crises.

"We are not just continuing; we are intensifying our efforts to achieve significant milestones for these programs by the end of this year," Weisman added. "We are on track to submit an NDA for PAX-101, and potentially secure an FDA Priority Review Voucher if approved."

This proactive approach illustrates PaxMedica's dedication to advancing healthcare solutions globally.